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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Interpret how current trends impact on risk profiles 
SAQA US ID UNIT STANDARD TITLE
120003  Interpret how current trends impact on risk profiles 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  15 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who assess Long-Term risk including Group Benefits: pricing, tendering and quoting, Claims Assessing and Underwriting.

The qualifying learner is capable of:
  • Analysing potential changes in current practice as a result of new developments.
  • Interpreting changing trends in the macro and micro environment that impact on risk profiles.
  • Analysing current medical research and development that could impact on risk profiles.
  • Collating evidence to propose a change to an existing company specific risk profile. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners should be competent in Communication and Mathematical Literacy at Level 4. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Relevant parties include, but are not limited to, actuaries, lawyers, underwriters, tender parties, trustees and doctors.
  • The macro and micro environments include the physical, built, socio-economic, political and natural environments at global and local level.
  • Trends include, but are not limited to, migration, mortality rates, natality rates and urbanisation.
  • Research and development could focus on medical, health or safety issues. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse potential changes in current practice as a result of new developments. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Relevant information regarding a current event is accessed and applied to determine the potential impact on an existing risk profile or practice. 

    ASSESSMENT CRITERION 2 
    The potential impact is communicated and substantiated to relevant parties. 

    SPECIFIC OUTCOME 2 
    Interpret changing trends in the macro and micro environment that impact on risk profiles. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Environmental issues that could impact on Long-Term risk assessment are identified within the macro environment. 

    ASSESSMENT CRITERION 2 
    A changing trend in the macro or micro environment is identified and analysed in terms of the potential effect of the trend on risk profiles. 

    ASSESSMENT CRITERION 3 
    The impact of globalisation on risk profiles is explained with reference to the movement of people between countries. 

    ASSESSMENT CRITERION 4 
    Resources available in a particular place are researched in order to determine a risk profile. 

    SPECIFIC OUTCOME 3 
    Analyse current medical research and development that could impact on risk profiles. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Data relating to current research and development is accessed and analysed to determine the potential impact on risk profiles. 

    ASSESSMENT CRITERION 2 
    A relevant topic is researched and documented indicating insight into selected medical and/or health and safety issues. 

    ASSESSMENT CRITERION 3 
    Current developments in genetic testing are researched and discussed with reference to the potential impact on risk assessment and ethical and moral issues. 

    SPECIFIC OUTCOME 4 
    Collate evidence to propose a change to an existing company specific risk profile. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Information to motivate a change in a company specific risk profile is gathered from a variety of sources. 

    ASSESSMENT CRITERION 2 
    The proposed change is presented to the relevant parties. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify problems, make decisions and recommendations and give feedback on matters that impact on risk profiles in the long term insurance industry. 

    UNIT STANDARD CCFO WORKING 
    The learner is able to work effectively as a member of a team in consulting with and presenting information to relevant parties. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able organise his/her activities responsibly and effectively conducting the required research and organising information required to make a decision about risk profiles. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able critically evaluate information in identifying trends, making recommendations and proposing changes to risk profiles. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able communicate effectively in analysing, documenting and presenting information about risk profiles and possible changes. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able using a computer effectively to retrieve and present information. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to recognise that there is an interplay of a number of related systems when assessing risk. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  49834   National Certificate: Financial Services: Long-Term Risk Assessment  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered" 
    2012-06-30  INSETA 
    Core  49860   National Diploma: Financial Services: Long-Term Risk Assessment  Level 5  NQF Level 05  Reregistered  2023-06-30  INSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. CKP Development Agency (Pty) Ltd. 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.